UK public borrowing totals 18.8 billion pounds in Oct

Economy1 hour ago (Nov 19, 2021 07:36)

© Reuters. FILE PHOTO: People walk past the Bank of England during morning rush hour, amid the coronavirus disease (COVID-19) pandemic in London, Britain, July 29, 2021. REUTERS/Henry Nicholls/File Photo

LONDON (Reuters) – British public sector net borrowing, excluding state banks, totalled 18.799 billion pounds ($25.38 billion) in October, official figures showed on Friday, above economists’ average forecast in a Reuters poll of 13.8 billion pounds.

The public sector net cash requirement leapt to 61.452 billion pounds in October from 6.061 billion pounds in September, driven by an expansion of the Bank of England’s Term Funding Scheme to support lending.

($1 = 0.7408 pounds)

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